Investors withdrew $269.7 million from BlackRock’s iShares Bitcoin Trust (IBIT) on November 11, 2026.
That fund made up most of the roughly $300 million in net outflows from all US spot Bitcoin ETFs that day.
IBIT has seen outflows for seven straight sessions, beginning on October 30, 2026. Withdrawals over that period totaled approximately $1.66 billion.
The wider trend may be even more notable. As of early November 2026, US spot Bitcoin ETFs had year-to-date net outflows of around $1.1 billion. This is the first time the category has recorded net outflows for a year since the products launched in January 2024.
The difference from the previous two years is stark: both 2024 and 2025 saw inflows into these funds.
Bitcoin has also come under pressure, with its price hovering between $73,000 and $74,000.
BlackRock isn’t selling; its clients are.
The outflows reflect clients redeeming ETF shares, not BlackRock independently deciding to sell coins. The asset manager provides the vehicle, but it doesn’t drive the decision.
The process works through authorized participants, the large intermediaries that create and redeem ETF shares. When investors redeem shares, authorized participants receive Bitcoin from the fund to settle those positions.
The $269.7 million figure reflects investor appetite, not a strategic call by BlackRock’s leadership about Bitcoin’s direction.
Still the heavyweight, with a dent
Despite the recent outflows, IBIT remains the category’s dominant fund by a wide margin. It holds roughly 62% of all US spot Bitcoin ETF assets and has attracted approximately $64.8 billion in cumulative net inflows since launch.
Because IBIT accounts for most of the sector’s holdings, its flows effectively set the tone for the whole category. On November 11, its $269.7 million outflow made up most of the sector’s approximately $300 million total.
What this means for Bitcoin investors
Spot ETFs have become one of the most closely watched indicators of institutional demand for Bitcoin. Year-to-date outflows of around $1.1 billion—the first such instance since January 2024—suggest that at least some investors who embraced the ETF structure in 2024 and 2025 are stepping back.
IBIT has received approximately $64.8 billion in lifetime net inflows, and its investor base remains large, with most of that capital still in the fund.
For traders, the daily flow report is the practical signal. Given IBIT’s roughly 62% share of sector holdings, a streak of positive flow days would be the clearest sign that institutional appetite is returning.
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